Barcelona midfielder, Coutinho is set to move on loan to Bayern Munich as the two clubs come to an agreement.
Bayern Munich have agreed to sign attacking midfielder Philippe Coutinho from Barcelona on season-long loan deal with an option to buy, BBC reports.
The German champions said the 27-year-old Brazilian is expected to complete the move in the coming days.
Bayern chief executive Karl-Heinz Rummenigge said: "The name doesn't matter, only the quality."
The club are also set to sign 19-year-old midfielder Mickael Cuisance from Borussia Monchengladbach.
Coutinho, who was in the crowd for Barcelona's La Liga defeat against Athletic Bilbao on Friday, joined from Liverpool in a £142m deal in January 2018.
Despite scoring 21 goals in 76 appearances for the Spanish giants, he has fallen short of expectations and had been linked with several clubs this summer.
It is believed he was included as part of a bid by Barcelona to re-sign Neymar from Paris St-Germain, the Spanish club reportedly willing to offer 100m euros (£92.4m) plus Coutinho for the forward.
Tottenham ended their interest in a loan deal for Coutinho earlier this month, while he was also linked with moves to Arsenal and back to Liverpool.